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    Oil stabilizes near $106; pump prices fall

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    Wochit Headline News

    by Wochit Headline News

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    The price of oil stabilized around $106 a barrel, while pump prices fell to their lowest level in a month. Benchmark oil for September delivery was up 6 cents to $106.03 a barrel in midday trading on the New York Mercantile Exchange. The contract had jumped $2.57, or 2.5 percent, on strong industrial production data from China.